KISHOR KUMAR K. C. Vs. CANARA BANK

JUDGEMENT

(1.) The petitioners who are the borrowers from the respondent-Canara Bank are before this Court being aggrieved by the issuance of sale notice dtd. 7/4/2025 under Sec. 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act').

(2.) Settled position of law is, any person including the borrower if aggrieved by the action taken by the respondent-Bank under Sec. 13 of the SARFAESI Act, will have to seek appropriate remedy under Sec. 17 of the SARFAESI Act. Same being effective and alternative remedy.

(3.) However, learned counsel for the petitioners submits that the auction of the residential property of the petitioners is scheduled to be held tomorrow and if the auction is confirmed, due to paucity of time, the petitioners be rendered remediless.